Property Details
About this Property
Super high yield 14-unit apartment opportunity at a 6.6% cap rate and 9.7X GRM on actual rents. At only $169k/door this property qualifies for 73% LTV purchase financing ($645K down) and will deliver an 8.9% cash on cash return at a 7% cap rate after only one rent increase. 12 studios and two 1BD/1BA units in 5,276 rentable square feet on a 7,419 square foot lot. Significant renovations and capital improvements done including new separately metered complete electrical system, foundation earthquake retrofit, and most interiors are remodeled. Community laundry room plus 5 garages for additional income or ADU potential. Convenient location in the Washington neighborhood directly across the street from Washington Middle School, currently undergoing a massive $176 million reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 billion. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (CoStar). Walk Score 86/100.
MLS Listing Information
MLS #
CRSB25099702
MLS Source
California Regional MLS
Days on Site
32
Interior Features
Appliances
Oven - Gas, Oven Range - Gas
Flooring
Laminate
Cooling
None
Heating
Wall Furnace
Exterior Features
Roof
Flat
Foundation
Raised
Style
Mediterranean
Parking, School, and Other Information
Garage/Parking
Garage, Garage: 5 Car(s)
HOA Fee
$0
Contact Information
Listing Agent
Anthony Walker
Buckingham Investments, Inc
License #: 01908153
Phone: (310) 982-7055
Co-Listing Agent
Michael Borba
License #: 01380572
Phone: –
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 13 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1495 Cedar Ave is a Residential Income in Long Beach, CA 90813. This – square foot property sits on a 7,419 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,375,000 and was built in 1923. This address can also be written as 1495 Cedar Ave, Long Beach, CA 90813.
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This listing information is up-to-date as of May 05, 2025. For the most current information, please contact Anthony Walker, (310) 982-7055
